Cobra Value Loss Due to Accident

[DAVID GAGNARD]

If Yeller is going against the "at fault" party for his damages and Loss of Value, then, it doesn't matter what type of insurance policy he has on his own car.....the only thing that matters is, if the state recognizes "Loss of Value" and allows it and if the "at fault" party has enough liabliity limits to cover all the damages plus a LOV claim........

David

[patrickt]

Originally Posted by DAVID GAGNARD

If Yeller is going against the "at fault" party for his damages and Loss of Value, then, it doesn't matter what type of insurance policy he has on his own car.....the only thing that matters is, if the state recognizes "Loss of Value" and allows it and if the "at fault" party has enough liabliity limits to cover all the damages plus a LOV claim........

David

You are now at the top of the class. And it if he doesn't have enough insurance you just go after his assets -- that's why everybody that is reading this should absolutely, postively, 100% no question about it, have an Umbrella policy that sits on top of their auto policy (including that collector car coverage that you have on your Cobra, make sure the Umbrella carrier knows about your Cobra policy).

[yeller53]

The other party was at fault and the insurance company has agreed to repair my car. .note to Double Venom - tried to call you but could not get through to leave message !!

[DAVID GAGNARD]

Originally Posted by yeller53

The other party was at fault and the insurance company has agreed to repair my car. .note to Double Venom - tried to call you but could not get through to leave message !!

And by agreeing to repair your car, they have accepted responsibility and liability.......... They are the ones you need to talk to about your Loss of Value claim..........assuming your state recognizes a LOV claim and allows it.......

David

[Double Venom]

Old Yellar,
Ehen you call me and all the phone does is ring "WITHOUT" and answering machine picking up it's because I am onlne (dialup!). Try again around 7PM EST.
DV

[jhv48]

The other insurance company will most likely deny your loss of value claim, as they will say that their policy does not cover loss of value.

THUS, your only recourse will be against the vehicle driver/owner and, if allowed in your State, will require legal action on your part.

PITA if you ask me.

[DAVID GAGNARD]

Originally Posted by jhv48

The other insurance company will most likely deny your loss of value claim, as they will say that their policy does not cover loss of value.

THUS, your only recourse will be against the vehicle driver/owner and, if allowed in your State, will require legal action on your part.

PITA if you ask me.

How can you make such an a statement/assumption without even knowing who the other insurance company is????????? As far as I know, LOV would come under the physical damage limits of the policy.....I have never seen an auto insurance policy that specifically states LOV claims are excluded!!!!!!!!!!!!!!! State courts determine if they allow it or not in their respective states......

Seems there are a lot of "assumptions" going around regarding insurance claims................it's all spelled out in the policy, by reading one's policy,one would know what is covered and what is not covered.........

David